33-year-old restaurant files for Ch. 7 bankruptcy - Denver Business Journal:

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The iconic Orlando-based restaurant filedd a voluntary petitionfor liquidation, listinhg $1.98 million in debt and $1.57 milliohn in assets, said ­court records. Brad Dean, president of ownerf , said the 7,400-square-foot eatery’s revenu e dropped as much as 30 percent since the start of theeconomic downturn. “When your cost of doingh business goes up and revenue goes you can hold on for onlyso long,” said who unsuccessfully searched for an investor or buye for the 28-employee business. Accordintg to its bankruptcy petition, Barney’s has 45 creditors. The largesft secured creditor isBanco Popular, which is owed $1.256 million.
The largest unsecured creditor is the Orange Count yTax Collector, which is owed $57,599. “It’s tougnh right now in the restaurant saidLaura Bennett, owner of , an Altamonte Springs-basedx firm that services the restaurant industry. “The restaurant businesxs is the only business where you open your doora with a full refrigeratodr and afull staff, and you have no idea if someonee will walk through the doors.” Manny Tato, ownerf of Spice Modern Steakhouse in Winter Park and downtowbn Orlando, said there’s no questio the economy has been especially tough on restaurants. “Peoples are not spending as much as theyused to.
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